Bid rigging: Fair Trade Commission fines builders with $1.1 billion

“The antitrust agency fined 84 construction companies a combined 1.34 trillion won for collusion from January 2010 through August this year. Samsung Construction & Trade topped the list.

[…]

The number of bid rigging cases uncovered by the FTC was only 4 in 2011, but soared to 135 in 2014. […] In the first eight months of 2015, the figure stood at 109.

[…] Prior to the bidding, two bidders met and decided that one would submit a higher price than the other in order to ensure that the latter obtained the contract.”

https://www.koreatimes.co.kr/www/news/biz/2015/12/123_192687.html

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